Newmark Group, Inc. (NASDAQ:NMRK) Receives $17.00 Average Target Price from Brokerages

Shares of Newmark Group, Inc. (NASDAQ:NMRK) have received an average rating of “Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $17.00.

NMRK has been the subject of several research reports. Raymond James boosted their target price on Newmark Group from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, November 8th. Zacks Investment Research raised Newmark Group from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, October 14th. Finally, TheStreet raised Newmark Group from a “c” rating to a “b-” rating in a report on Wednesday, November 3rd.

NMRK traded down $0.03 on Thursday, hitting $17.55. 754,503 shares of the company were exchanged, compared to its average volume of 877,797. Newmark Group has a twelve month low of $6.56 and a twelve month high of $17.97. The stock has a market capitalization of $3.73 billion, a P/E ratio of 6.07, a price-to-earnings-growth ratio of 1.07 and a beta of 1.76. The company has a current ratio of 0.60, a quick ratio of 1.03 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $14.93.

Newmark Group (NASDAQ:NMRK) last released its quarterly earnings data on Friday, November 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.13. The business had revenue of $788.13 million during the quarter, compared to analysts’ expectations of $679.95 million. Newmark Group had a return on equity of 28.92% and a net margin of 23.68%. The business’s quarterly revenue was up 80.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. Research analysts forecast that Newmark Group will post 1.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 10th. Shareholders of record on Friday, November 19th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, November 18th. Newmark Group’s dividend payout ratio is presently 1.38%.

Hedge funds have recently modified their holdings of the company. American Century Companies Inc. raised its stake in shares of Newmark Group by 18,982.5% during the 2nd quarter. American Century Companies Inc. now owns 1,951,945 shares of the company’s stock worth $23,443,000 after buying an additional 1,941,716 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Newmark Group by 3.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,174,256 shares of the company’s stock worth $14,103,000 after buying an additional 39,183 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Newmark Group by 25.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 43,207 shares of the company’s stock worth $519,000 after buying an additional 8,860 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Newmark Group by 8.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 128,603 shares of the company’s stock worth $1,545,000 after buying an additional 10,136 shares in the last quarter. Finally, Engine Capital Management LP purchased a new position in shares of Newmark Group during the 1st quarter worth approximately $318,000. 55.14% of the stock is owned by institutional investors and hedge funds.

About Newmark Group

Newmark Group Inc engages in the provision of commercial real estate services. It offers its services to commercial real estate tenants, investors, owners, occupiers, developers, leasing and corporate advisory, investment sales and real estate finance, consulting, origination and servicing of commercial mortgage loans, valuation, project and development management and property and facility management.

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Analyst Recommendations for Newmark Group (NASDAQ:NMRK)

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